Nov 10 2016
Like a dream that seem unrealisable, a task daunting, so much comments from party members and Americans who just did not see anything Presidential about the New York business mogul – Donald J. Trump. It was with utmost dismay, when the election results for the 2016 presidential election resonate the various media houses on Trump’s victory. Over a year ago when Trump nurse the idea of delving into politics with a view to change America for good, not so many took him seriously, perhaps he himself never believed he would become the president elect on the 9th of November. So many analysis and predictions about the acrimonious 2016 campaign elections was in favour of Secretary Hillary Clinton. More so that many saw Trump as totally unfit for the white house couple with his controversial
campaign rhetoric and policies. Donald J. Trump Kept at and was resolute with his slogan for “making America Great again”, it was more of giving them back their jobs and safety from the threat of Islamic extremism and terrorism.
All over the world, the stock and currency markets especially were looking forward to a more favourable Clinton win and thus the markets sentimentally focus on high prospects, but that was not the case as Trump defied the odds to win the election, suddenly the market came crashing down. US and European stock futures and benchmarks in Asia are sliding, and the Mexican peso has crashed. Safe havens including US Treasurys are rallying, meanwhile.
The way investors see it, Trump and his economic positions are less predictable than Hillary Clinton’s and do not always follow Republican party orthodoxy. And so he is perceived as more of a political risk.
US stock futures are plunging as well. As of 11:39 p.m. ET on Tuesday, Dow futures were down by 753 points — about 4.13%. If this plunge holds, it sets the market up for an ugly start to trading on Wednesday.
Gold is up by 3.8% at $49.50 an ounce as of 11:42 p.m. ET at $1,324 an ounce. By contrast, in early evening trade, gold fell by $6 per ounce; and it is $30 per ounce above its high during trading on Tuesday.
US Treasurys are also soared, with the 10-year yield falling more than 11 basis points to 1.736%
And finally, Asian stocks are getting crushed. Here’s a rundown from Business Insider Australia:
- AUSTRALIA: ASX 200: -2.1%
- JAPAN: Nikkei 225: -6.0%
- CHINA: Shanghai Composite: -1.0%
- HONG KONG: Hang Seng: –3.0%
With the Trump victory speech the market is beginning to rally round to restoring what was lost after the election results.
The Determining Factor
The Trump campaign was centred on restoring America and its conservative values which readily appeals to the working class whites, especially of the states of Ohio, Michigan and Pennsylvania. Polls and statistics shows that the working class whites votes in these States actually gave Trump the victory. It’s more or less like a revolt by poorer whites left behind by globalisation, which did indeed turn out in greater numbers for the Republican candidate than in 2012, Trump’s victory also relied on the support of the middle-class, the better-educated and the well-off.
What appears to have made the biggest difference on the night was the turnout for Trump of white voters across the board – of both sexes, almost all ages and education levels, and from mid- and higher income levels.
Among the more startling data to emerge from the poll:
- White voters, who make up 69% of the total, voted 58% for Trump and 37% for Clinton. Non-white voters, who make up 31% of the electorate, voted 74% for Clinton and 21% for Trump.
- White men opted 63% for Trump and 31% for Clinton; white women voted 53% for Trump and 43% for Clinton.
- Among non-college-educated whites, 67% voted for Trump – 72% of men and 62% of women.
- Among college-educated whites, 45% voted for Clinton – 39% of men and 51% of women (the only white demographic represented in the poll where the former secretary of state came out on top). But 54% of male college graduates voted for Trump, as did 45% of female college graduates.
- More 18- to 29-year-old whites voted for Trump (48%) than Clinton (43%).
Trump collected just 9% of black votes from the same age group, and 24% of Latinos. Compared with Obama four years ago, Clinton underperformed with black and Latino voters generally, winning 88% of the black vote overall, against Obama’s 93%, and 65% of the Latino vote, against Obama’s 71%.
Trump, meanwhile, while winning just 8% of the black vote, collected 29% of the Latino vote – two percentage points more than his 2012 predecessor, Mitt Romney.
Broken down by income bracket, 52% of voters earning less than $50,000 a year – who make up 36% of the electorate – voted for Clinton, and 41% for Trump.
But among the 64% of American voters who earn more than $50,000 a year, 49% chose Trump, and 47% Clinton.
Courageous but Emotionally laden Conceding Speech by Hillary Clinton
Finally , Hillary Clinton had to call on the president elect Donald J. Trump to congratulate him on his election victory. She urges her followers and supporters to support Trump and give him a chance to lead. She apologise deeply to her teaming supporters for not having been able to win the election. She praised them all for ultimately making her their champion and urges them not to be cynical and despondent but to believe in the American dream to support Trump to achieve that. Hillary Clinton truly has shown the spirit of a sportsmanship and a great democrat by her outstanding concession speech after it was clear ultimately from the Electoral College result that Trump was far ahead of her by 290 to 228 respectively. The world waits the unveiling of the Trump controversial foreign policies and economic and security plans to make “America great again”.
Adams Amana is a freelance writer and currently the Editor at www.cash4wealthng.com